The Great American Labor Shortage: Is the Economy in Crisis?

With the US economy experiencing strong growth, low unemployment rates, and the lasting impact of the COVID-19 pandemic, the labour market is encountering significant challenges. Currently, there are over 10 million job openings in the US, but only 5.7 million unemployed workers available to fill them. This video will delve into the history of the labour shortage in America, the economic factors contributing to the crisis, and the impact of COVID-19 on the US economy. Despite the low unemployment rates, there remains a significant gap between the number of job openings and available workers. Even if every unemployed person in the country found a job, there would still be 4 million open jobs. So, How did the labor market get here? Is there really a labor shortage in the US, or is it just a myth? Enjoyed the video? Comment below! 💬 ⭑ Subscribe to Econ 👉 ⭑ Enjoyed? Hit the like button! 👍 #economy #us #useconomic Citation: Images: Joe Bidenby Gage Skidmore/flickr Darjeeling Stories by Tirthankar Gupta/flickr The chopper by Gauthier DELECROIX - 郭天/flickr Archive Image and videos: Library of Congress Maps: Vectors Stock Footages: Music by: Ultra by Savfk Oxygen Garden by Chris Zabriskie